If you have a collection of coins at home, it may be worth checking their value. Recently, three sisters from Ohio sold a rare dime in an online auction, fetching an impressive $506,250.
The sisters, who wish to remain anonymous, inherited the coin after their brother passed away. Their mother and brother originally purchased it in 1978 for $18,200, keeping it secured in a bank vault for over four decades. The sisters shared with Newsweek that their family, who owned a dairy farm, viewed the coin as a financial safeguard. One of the sisters mentioned that she hadn’t even seen the coin until last year.
This 1975 dime, part of a collection of proof dimes, features President Franklin D. Roosevelt. Its rarity stems from a unique error: it’s missing the “S” mint mark, which signifies the coin’s place of origin. This particular dime is one of only two known to have this distinctive flaw.
The U.S. Mint explains that mint marks indicate the production facility responsible for a coin’s quality, adding accountability to coin production standards. Historically, when coins were made from precious metals like gold and silver, quality inspections were performed to ensure each facility met precise specifications.
According to the auction listing, the San Francisco Mint originally produced a “proof” set of over 2.8 million coins. However, it wasn’t until three years later that collectors noticed the absence of the “S” mark on two dimes. Ian Russell, president of GreatCollections, told Newsweek that the company was thrilled to auction such a significant coin, noting they had previously handled other iconic pieces, but this was their first experience with the 1975 “no S” proof dime.
Before its sale, the dime was showcased at a coin show in Tampa, Florida, and ultimately sold online on October 27 for over half a million dollars.
FAQs
FAQ 1: What is the significance of the missing “S” mint mark on the 1975 dime?
The missing “S” mint mark on the 1975 dime indicates that it was produced without the typical mark signifying the San Francisco Mint, which adds to its rarity and value. This error makes it one of only two known dimes from this collection with such a flaw.
FAQ 2: How did the sisters come to sell the rare dime?
The sisters inherited the rare dime from their family following their brother’s passing. The coin had been purchased by their mother and brother in 1978 for $18,200 and was stored in a bank vault for over 40 years before being sold in an online auction.
FAQ 3: How much did the rare dime sell for?
The rare 1975 dime sold for an impressive $506,250 during an online auction held on October 27.
FAQ 4: What are proof dimes, and why are they valuable?
Proof dimes are specially minted coins designed for collectors, known for their high quality and distinctive finish. Their value can increase significantly due to factors like rarity, condition, and unique errors, such as missing mint marks.